Archer Aviation Acquires Boeing's Wisk and Insitu Subsidiaries

Boeing has agreed to sell its subsidiaries Wisk and Insitu to Archer Aviation. The deal also includes SkyGrid, Boeing's ground-based air traffic management solution.

The acquisition will give Archer a significant boost in its development of electric vertical takeoff and landing (eVTOL) aircraft. Archer is aiming to fly passengers in its eVTOL aircraft Midnight by the 2028 Olympics in Los Angeles.

As part of the deal, Boeing will retain access to Wisk's autonomous flight technology for its current and future aircraft. Boeing will also take a nearly 20% stake in Archer.